Greenlam Industries Receives Custom Demand Order Worth 7.05 Crore

Greenlam Industries Limited has informed the stock exchanges, BSE Limited and the National Stock Exchange of India Limited, regarding the receipt of an order from the Office of the Commissioner of Customs, Custom House, Kandla. This disclosure is being made under Regulation 30, read with sub-para 20 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

According to the company’s intimation dated July 11, 2025, the said order has been passed under Section 28(4) and other applicable provisions of the Customs Act, 1962. It pertains to the duty demand concerning anti-dumping duty on base paper and the exemption on IGST payable for imports done under the advance authorisation scheme. The order confirms a duty demand of Rs 70,504,443, while the interest component remains unquantified and will be applied as per the relevant provisions. In addition, a redemption fine of Rs 40,000,000 has been imposed along with a penalty amounting to Rs 140,954,443, plus interest.

The disagreement, identified in the order, relates to the anti-dumping duty on base paper and the exemption from IGST on the imports under the advance authorisation. The company received the order on July 11, 2025. Greenlam has indicated that it is now in the process of seeking a review of the order and is identifying any legal remedies available. As the matter is appealable within three months from the receipt of the order, the company intends to file an appeal within the prescribed timeframe.

Greenlam Industries Limited has clarified further that it is optimistic of a good outcome at the appellate authority level. Therefore, at this point, the company does not expect the said order to have a material adverse impact on its financials or operations.